We value your privacy

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. By clicking "Accept All", you consent to our use of cookies. Cookie Policy

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

ADVERTISEMENT
Africanian
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
No Result
View All Result
Africanian
No Result
View All Result
Home World

US ‘demonization’ of China might put itself in financial peril: Washington Post

In the last three months, according to US Treasury statistics, the US national debt has risen by astounding 2 trillion US dollars to about 25.4 trillion dollars and will rocket upward in future months.

in World
Reading Time: 2 mins read
0 0
0
US 'demonization' of China might put itself in financial peril: Washington Post
0
SHARES
Share on FacebookShare on TwitterShare via Whatsapp

More

India leads a technical response following the Boeing 787 crash

China implements visa exemption for Saudi Arabia, Oman, Kuwait, and Bahrain

Is the United States of America Still the Land of Opportunity?

NEW YORK – Insulting and demonizing China, the second largest creditor of the United States, just for domestic political reasons sure doesn’t seem like the way to go about it, as it would instead put America in financial predicament, the Washington Post said on Friday.

“Blaming China for the coronavirus might seem like smart politics, but insulting a creditor when the US is running up a huge debt to stimulate the economy isn’t a good idea,” Allan Sloan said in his columnist article on the newspaper.

“So where’s the money going to come from? Historically, China has been a huge buyer of (US) Treasury securities, and owned 1.08 trillion dollars of them as of March 31, the most recent date for which (US) Treasury numbers are available. China’s holdings rank second, behind Japan’s 1.27 trillion dollars,” he wrote.

In his article, Sloan, a business journalist who used to serve Fortune magazine before working for the Washington Post, lists two political reasons that lead the Trump administration to attack China day in and day out.

“First, they need a scapegoat for the disastrous impact that the coronavirus pandemic is having on the lives and economic welfare of Americans, and to divert attention away from their own failings,” he said.

“Second, it’s helpful politically — although not morally or socially — to demonize ‘the other.’ It lets (US President Donald) Trump play offense rather than defense and try to get Americans to rally around the flag by claiming to be the protector of our country against evil foreigners,” he added.

He noted that the United States has been trying to shift blame over the COVID-19 pandemic to its second largest creditor, right as America itself is running massive budget deficits as part of its attempt to stimulate the economy and limit the financial damage that COVID-19 is inflicting on its people, businesses and institutions.

Sloan also reminded the US administration to “see if China attempts to counterattack Trump and undermine the dollar by selling some of its existing Treasury holdings or by announcing that its days of helping finance US deficits have come to an end.”

“It’s easy to dismiss this as political posturing. But if I were a foreign lender, I’d sure be wary of lending money to the United States when it’s run by a president who acts on impulse, rules by decree and might just decide one day to declare the US IOUs held by any particular country to be null and void,” Sloan said in his article.

“We need lenders, especially foreign lenders, to help finance our budget gap by buying vast amounts of ultra-low-yielding securities,” he added.

Source: China Daily
africanian

africanian

  • Trending
  • Comments
  • Latest
Rwanda combines youth innovation and circular economy to build a resilient nation

Rwanda combines youth innovation and circular economy to build a resilient nation

July 3, 2025
Weather in South Africa: Climate and Seasons

Weather in South Africa: Climate and Seasons

August 25, 2020
7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

June 25, 2025
In Tanzania, the Kibuka community has improved their household economy by more than 50%.

In Tanzania, the Kibuka community has improved their household economy by more than 50%.

July 11, 2025
Lesotho increases blood collection by 70% between 2017 and 2024

Lesotho increases blood collection by 70% between 2017 and 2024

July 8, 2025
Nigeria accelerates economic transformation with key reforms and signs of recovery

Nigeria accelerates economic transformation with key reforms and signs of recovery

July 7, 2025
Twitter Instagram Youtube Facebook
No Result
View All Result

Africanian News

Is a dedicated project aimed at amplifying the voices of the African Ecosystem and Diaspora. We actively collaborate with initiatives to improve access to education and digital inclusion, both in traditional schools and through digital platforms, for African children.

It’s crucial to emphasize that none of the articles or images featured on our platform are intended for copyright infringement, neither now nor in the future. If you believe that any information, text, image, etc., may be subject to copyright and should be removed, please notify us by sending an email to info@africanian.com

Your dreams matter; your stories matter.

Feel free to explore collaboration opportunities with us. Share your articles, thoughts, interviews, experiments, or no-comment videos by reaching out to info@africanian.com. You can also subscribe to our mailing list to receive the latest updates from Africanian News.

© 2024 Africanian News: From Africa, by Africans, for Africa, and friends of Africa.

No Result
View All Result
  • News
  • Politics
  • Business
  • Health
  • Sports
  • Entertainment
  • Tech
  • Travel
  • World

© 2024 Africanian News: From Africa, by Africans, for Africa, and friends of Africa.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Log In

Sign In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Back to Login

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Accept

Add to Collection

  • Public collection title

  • Private collection title

No Collections

Here you'll find all collections you've created before.